v3.26.3
Loan Portfolio - Schedule of Loans Receivable Held-for-Investment Portfolio (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Dec. 31, 2025
 [2]
Loans Receivable Roll Forward [Line Items]          
Repayment of non-cash advances on loans receivable in lieu of interest     $ 31,845 $ 27,991  
Accretion of fees and discounts $ 1,105 $ 2,749 3,841 $ 8,454  
Loans receivable held-for-investment 2,490,623 [1]   2,490,623 [1]   $ 3,615,401
Unpaid Principal Balance [Member]          
Loans Receivable Roll Forward [Line Items]          
Balance     4,057,357    
Advances on existing loans     34,022    
Non-cash advances in lieu of interest     1,064    
Repayments of loans receivable     (534,896)    
Assignment of loan receivable to lender     (71,356)    
Repayment of non-cash advances on loans receivable in lieu of interest     (31,845)    
Sales of loans receivable     (220,000)    
Transfer to real estate owned, held-for-investment     (62,837)    
Transfer to loans receivable held-for-sale     (111,542)    
Charge-offs [3]     (4,785)    
Balance 3,055,182   3,055,182    
Deferred Fees and Discounts [Member]          
Loans Receivable Roll Forward [Line Items]          
Balance     (3,204)    
Origination fees, discounts, extension fees and exit fees     (683)    
Accretion of fees and discounts     3,841    
Sales of loans receivable     (326)    
Transfer to real estate owned, held-for-investment     61    
Transfer to loans receivable held-for-sale     279    
Charge-offs [3]     (99)    
Balance (131)   (131)    
Specific CECL Allowance [Member]          
Loans Receivable Roll Forward [Line Items]          
Balance     (365,424)    
Assignment of loan receivable to lender     17,784    
Sales of loans receivable     29,855    
Transfer to real estate owned, held-for-investment     3,522    
Transfer to loans receivable held-for-sale     41,409    
Provision for specific CECL reserve     (247,650)    
Charge-offs [3]     4,884    
Balance (515,620)   (515,620)    
Carrying Value [Member]          
Loans Receivable Roll Forward [Line Items]          
Balance [4]     3,688,729    
Advances on existing loans [4]     34,022    
Non-cash advances in lieu of interest [4]     1,064    
Origination fees, discounts, extension fees and exit fees [4]     (683)    
Repayments of loans receivable [4]     (534,896)    
Assignment of loan receivable to lender [4]     (53,572)    
Repayment of non-cash advances on loans receivable in lieu of interest [4]     (31,845)    
Accretion of fees and discounts [4]     3,841    
Sales of loans receivable [4]     (190,471)    
Transfer to real estate owned, held-for-investment [4]     (59,254)    
Transfer to loans receivable held-for-sale [4]     (69,854)    
Provision for specific CECL reserve [4]     (247,650)    
Balance [4] 2,539,431   2,539,431    
General CECL reserve [4]     (48,808)    
Loans receivable held-for-investment [4] $ 2,490,623   $ 2,490,623    
[1] Net of specific CECL reserves of $515.6 million.
[2] Net of specific CECL reserves of $365.4 million.
[3] Amount relates to the discounted payoff of a risk rated 5 multifamily loan receivable in July 2026.
[4] Balance at December 31, 2025 does not include general CECL reserve.